China’s COSCO has signed a preliminary agreement with Australian miner Fortescue to jointly build a green fuel supply chain. The memorandum of understanding includes exploring construction and deployment of green ammonia-fuelled vessels owned either by COSCO or jointly owned by both companies to transport iron ore and other minerals to reduce carbon emissions in the China-Australia iron ore green shipping corridor. “The cooperation marks another big step in decarbonising the shipping industry … These solutions will be integral to achieving our net zero Scope 3 emission target by 2040,” Fortescue said in a statement. In March this year, the Fortescue Green Pioneer, a platform supply vessel, conducted the world’s first use of ammonia fuel, in combination with diesel in the combustion process. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsAustralia Cosco